Industrial

Bussel Realty Corp. Arranges $7.8M Acquisition of Industrial Property in Piscataway, New Jersey

by Amy Works February 8, 2017

PISCATAWAY, N.J. — Bussel Realty Corp. has brokered the acquisition of an industrial property located at 4100 New Brunswick Ave. in Piscataway. ACMY acquired the property from AK Piscataway Associates for $7.8 million. Situated on 11.7 acres, the 95,483-square-foot property features ceiling heights up to 24 feet, 4,890 square feet of office space, 100 covered parking spaces, six tailboards and one drive-in loading door. David Blitt and Robert Sager of Bussel Realty represented the buyer in the transaction.

February 8, 2017

Illinois Industrial Midwest

NGKF Brokers Sale of 95,000 SF Manufacturing Facility in East Moline, Illinois

by Kristin Harlow February 8, 2017

EAST MOLINE, ILL. — Newmark Grubb Knight Frank (NGKF) has arranged the sale of a 95,000-square-foot manufacturing facility in East Moline, part of the Quad Cities area. The Quad Cities includes Rock Island and Moline, Ill., and Davenport and Bettendorf, Iowa. The acquisition was valued at more than $5 million. The building is located at 500 36th St., and comprises 87,320 square feet of warehouse space and 7,680 square feet of office space. The property features eight dock doors, two drive-in doors and 16-foot clear heights. The facility is 100 percent leased to JMF Co., a subsidiary of Zheijiang Hailiang Co. LTD. Jeffrey Miller of NGKF and Ben Yeggy of Gomez May LLP represented the undisclosed buyer in the acquisition. Chris Wilkins of NAI Ruhl Commercial Co. and Dick Davidson of Lane & Waterman LLP represented the seller, Bears in Bettendorf LC.

February 8, 2017

Industrial Texas

J.P. Hart Lumber to Develop Distribution Center in Dallas Metroplex

by Amy Works February 8, 2017

SHERMAN, TEXAS — J.P. Hart Lumber Co. is developing a lumber and building materials distribution center within Progress Park, a 3,300-acre master-planned business park in the Dallas suburb of Sherman. The company acquired 37.6 acres along Progress Drive to develop the $5.5 million to $6.5 million facility, which will create 37 full-time positions. J.P. Hart Lumber Co. contracted with Sherman Economic Development Corp., represented by Bob Hagewood and Cannon Green of Stream Realty Partners, to acquire the site for an undisclosed price.

February 8, 2017

Industrial Midwest Texas Top Stories

DRA Advisors Buys 19.8 MSF National Industrial Portfolio for $1.1B

by Nellie Day February 8, 2017

NEW YORK — DRA Advisors has purchased a 19.8-million-square-foot industrial portfolio that spans 21 U.S. markets for $1.1 billion. The portfolio contains a total of 184 properties that are 94 percent leased to more than 500 tenants. The properties reside in industrial hubs such as Dallas, Houston, Chicago, Atlanta and Columbus, Ohio. The assets range from less than 15,000 square feet to 925,000 square feet, according to CoStar Group. Cabot Properties Fund II sold the portfolio, concluding the fund’s disposition activity. The fund was launched in late 2005. This acquisition will allow New York-based DRA Advisors to expand its industrial footprint to more than 45 million square feet. DRA’s industrial assets are primarily located in Texas, California, Illinois, Indiana and Florida. The private equity real estate firm currently has more than $10 billion of assets under management. This includes more than 70 million square feet of commercial real estate and more than 12,000 residential units. Eastdil Secured and Cushman & Wakefield represented Boston-based Cabot Properties in the transaction. The private equity real estate firm manages and operates about 160 million square feet of industrial properties throughout North America and the United Kingdom that are valued at $57 billion. — Nellie Day

February 8, 2017

Industrial Texas

Frontier Forklifts Purchases 30,000 SF Industrial Facility in Pearland

by Amy Works February 7, 2017

PEARLAND, TEXAS — Pearland-based Frontier Forklifts has acquired an industrial facility located at 3401 S. Main St. in Pearland. Baker Hughes Inc. sold the 30,000-square-foot property, which is situated on 6.5 acres, for an undisclosed price. Frontier Forklift offers sales, service, rentals and parts for forklifts and specialty equipment. Conrad Bernard of Boyd Commercial represented the seller in the deal.

February 7, 2017

Industrial Kansas Midwest

Spectrum Brands to Move to 927,112 SF Facility at Logistics Park Kansas City

by Kristin Harlow February 7, 2017

EDGERTON, KAN. — Spectrum Brands Hardware and Home Improvement (HHI) has unveiled plans to move into a 927,112-square-foot distribution center at Logistics Park Kansas City (LPKC) in Edgerton. Spectrum Brands HHI will consolidate two existing distribution facilities in Charlotte, N.C. and Mira Loma, Calif. Construction of the building, known as Inland Port XXXIII, began in March 2016. The building is the largest to ever be constructed on a speculative basis in Kansas City, according to LPKC. The park is a 1,700-acre distribution and warehouse development anchored by BNSF Railway’s newest intermodal facility.

February 7, 2017

California Industrial Market Reports Western Western Market Reports

Downtown LA’s Industrial Supply Gives Way to Other Uses

by Camren Skelton February 7, 2017

When you visit Los Angeles, the sight of the cranes looming in the sky in all directions shows a city undergoing significant revitalization and redevelopment. Not so long ago, the Downtown area of Los Angeles went “dark.” This occurred after the hustle and bustle of the normal workday was done and the streets were mostly empty, businesses closed. Fortunately, Los Angeles has seen significant construction and redevelopment over the past few years. According to the Downtown Center Business Improvement District (DCBID), the population of Downtown Los Angeles was 18,000 people in 1999. Today, the population is estimated at 63,208, with a daytime population of 500,000. The residential inventory consists of 36,964 units with 11,868 under construction and 19,054 proposed for a total of 48,832 units as of the third quarter of 2016. There are 8,163 hotel rooms with 2,765 more under construction and 3,636 proposed for a total of 14,564. Retail has 2 million square feet under construction and an additional 1.5 million square feet proposed. Major industrial activity includes the announcement of Warner Music Group relocating from Burbank to the Arts District where it will occupy 257,000 square feet at the former Ford Factory, which was constructed in 1912. …

February 7, 2017

Illinois Industrial Midwest

Opus to Construct 111,345 SF Industrial Building in Romeoville, Illinois

by Kristin Harlow February 6, 2017

ROMEOVILLE, ILL. — The Opus Group has unveiled plans to construct a 111,345-square-foot, speculative industrial building in Romeoville. 101 Paragon will be the second and final phase of the company’s project at Paragon Business Park. Two other speculative industrial developments were constructed in 2016. 101 Paragon will feature 30-foot clear heights, 12 loading docks and 16 trailer parking positions. Completion is slated for August 2017. Opus Development Co. LLC is the developer, Opus Design Build LLC is the design-builder and Opus AE Group LLC is the architect and structural engineer. Jason West and Sean Henrick of Cushman & Wakefield will market the property for lease.

February 6, 2017

Indiana Industrial Midwest

SkyView Advisors Brokers Sale of 164,640 SF Self-Storage Portfolio in Northwest Indiana

by Kristin Harlow February 6, 2017

INDIANA — SkyView Advisors has brokered the sale of R&R American ULock, a five-property portfolio of self-storage facilities located in northwest Indiana. The sales price was not disclosed. The properties total 164,640 square feet and consist of 916 non-climate controlled units. The facilities were built from 1989 to 2007. The units range in size from 60 to 880 square feet. Ryan Clark and Jay Crotty of SkyView Advisors represented the seller, DCG Enterprises LLC, as well as the undisclosed buyer.

February 6, 2017

Industrial Texas

Stream Data Centers Breaks Ground on 145,000 SF Data Center in Plano

by Amy Works February 6, 2017

PLANO, TEXAS — Stream Data Centers has broken ground on Steam Ready-to-Fit Data Center – DFW VI, a data center within Legacy Business Park in Plano. Situated on 16 acres, the 145,000-square-foot facility is expandable to 265,000 square feet. Completion is slated for October. The facility will be Stream’s 10th data center project in Texas.

February 6, 2017

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